Technical outlook and chart setups:
The GBP/CHF pair dropped to 1.5100 levels yesterday, before raising back into 1.5230 levels as seen here. The pair could face intermediary resistance from the backside of support trend line around current levels. Please note that the pair has bounced from fibonacci 0.786 support and just ahead of 1.5075 levels, which is past support as seen here. It is recommended to remain ling for now, risk at 1.5000 levels. Bulls should remain in control till prices remain above 1.5075 levels for now. Immediate support is seen at 1.5075 levels, followed by 1.4950 and lower while resistance is seen at 1.5350/60 levels, followed by 1.5450/75 and higher respectively.
Trading recommendations:
Remain long for now, stop at 1.5000, the target is open.
Good luck!
The material has been provided by InstaForex Company - www.instaforex.com
